How to send money to Madagascar from the US with the best USD-MGA rate

We compared 7 companies sending money from the United States to Madagascar. Regency FX is the best and cheapest, while TapTap Send is the fastest.

Sending $7,000 with Regency FX gets your recipient 32,078,155.27 MGA at 4,582.5936 MGA per USD.

Best companies for USD/MGA transfers

7 of 7 providers

Last updated on 10 November 2026

Based on 7,000 USD transfer

Best companies for USD/MGA transfers

Sort Cheapest
Promoted

Xe

Pay via Bank transfer
Fee $0.00 1 USD = 4395.9397 MGA +4.43% vs mid-market Recipient gets Ar 30,771,577.90 Minutes - 24 hours
Personal account managerReceive to bank accountDedicated support for larger transactions

Ways to receive money in Madagascar with Xe when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 USD = 4395.9397 MGA
Ar 30,771,577.90You pay$7,000.00
Promoted

Regency FX

Pay via Bank transfer
Fee $0.00 1 USD = 4582.5936 MGA +0.27% vs mid-market Recipient gets Ar 32,078,155.27 Minutes - 24 hours
Personal account managerReceive to bank accountProfessional, personal service

Ways to receive money in Madagascar with Regency FX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 USD = 4582.5936 MGA
Ar 32,078,155.27You pay$7,000.00

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Regency FX

Pay via Bank transfer
Fee $0.00 1 USD = 4582.5936 MGA +0.27% vs mid-market Recipient gets Ar 32,078,155.27 Minutes - 24 hours
Cheapest
Personal account managerReceive to bank accountProfessional, personal service

Ways to receive money in Madagascar with Regency FX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 USD = 4582.5936 MGA
Ar 32,078,155.27You pay$7,000.00

OFX

Pay via Bank transfer
Fee $0.00 1 USD = 4572.0251 MGA +0.50% vs mid-market Recipient gets Ar 32,004,175.77 Minutes - 24 hours
Personal account managerReceive to bank account

Ways to receive money in Madagascar with OFX when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 USD = 4572.0251 MGA
Ar 32,004,175.77You pay$7,000.00
$0 fee on first online transfers

MoneyGram

Pay via Cash deposit
Fee $60.79 1 USD = 4525.9830 MGA +1.51% vs mid-market Recipient gets Ar 31,681,881.00 Minutes - 24 hours

Ways to receive money in Madagascar with MoneyGram when paying by cash deposit.

MethodFee & ratesRecipient gets
Cash pickupMinutes - 24 hours
$60.791 USD = 4525.9830 MGA
Ar 31,681,881.00You pay$7,060.79

TapTap Send

Pay via Debit card
Fee $0.00 1 USD = 4456.0000 MGA +3.07% vs mid-market Recipient gets Ar 31,192,000.00 Minutes
Fastest
Receive to bank account

Ways to receive money in Madagascar with TapTap Send when paying by debit card.

MethodFee & ratesRecipient gets
Mobile moneyMinutesAvailable via:Airtel, MVola, Orange
Free1 USD = 4456.0000 MGA
Ar 31,192,000.00You pay$7,000.00
Cash pickupMinutesAvailable via:Paositra Cash Pickup
Free1 USD = 4456.0000 MGA
Ar 31,192,000.00You pay$7,000.00
$0 fee on first online transfers

MoneyGram

Pay via Debit card
Fee $1.49 1 USD = 4451.7010 MGA +3.17% vs mid-market Recipient gets Ar 31,161,907.00 Minutes - 24 hours

Ways to receive money in Madagascar with MoneyGram when paying by debit card.

MethodFee & ratesRecipient gets
Mobile walletMinutes - 24 hoursAvailable via:Select Wallets
$1.491 USD = 4451.7010 MGA
Ar 31,161,907.00You pay$7,001.49
Cash pickupMinutes - 24 hours
$75.991 USD = 4435.4457 MGA
Ar 31,048,119.90You pay$7,075.99
$0 fee on first online transfers

MoneyGram

Pay via Bank transfer
Fee $105.00 1 USD = 4451.7010 MGA +3.17% vs mid-market Recipient gets Ar 31,161,907.00 Minutes - 24 hours

Ways to receive money in Madagascar with MoneyGram when paying by bank transfer.

MethodFee & ratesRecipient gets
Mobile walletMinutes - 24 hoursAvailable via:Select Wallets
$105.001 USD = 4451.7010 MGA
Ar 31,161,907.00You pay$7,105.00
Cash pickupMinutes - 24 hours
$5.991 USD = 4435.5241 MGA
Ar 31,048,668.70You pay$7,005.99
$0 fee on first online transfers

MoneyGram

Pay via Credit card
Fee $210.00 1 USD = 4451.7010 MGA +3.17% vs mid-market Recipient gets Ar 31,161,907.00 Minutes - 24 hours

Ways to receive money in Madagascar with MoneyGram when paying by credit card.

MethodFee & ratesRecipient gets
Mobile walletMinutes - 24 hoursAvailable via:Select Wallets
$210.001 USD = 4451.7010 MGA
Ar 31,161,907.00You pay$7,210.00
Cash pickupMinutes - 24 hours
$179.991 USD = 4435.4457 MGA
Ar 31,048,119.90You pay$7,179.99
Only available via Mobile App

Sendwave

Pay via Debit card
Fee $0.00 1 USD = 4400.3899 MGA +4.33% vs mid-market Recipient gets Ar 30,802,729.30 Minutes - 3 days
Receive to bank account or cash pickup

Ways to receive money in Madagascar with Sendwave when paying by debit card.

MethodFee & ratesRecipient gets
Mobile moneyMinutes - 3 days
Free1 USD = 4400.3899 MGA
Ar 30,802,729.30You pay$7,000.00
Only available via Mobile App

WorldRemit

Pay via Debit card
Fee $1.99 1 USD = 4400.3899 MGA +4.33% vs mid-market Recipient gets Ar 30,793,972.52 Minutes - 2 days
Our top pick
Receive to bank account or cash pickup

Ways to receive money in Madagascar with WorldRemit when paying by debit card.

MethodFee & ratesRecipient gets
Mobile moneyMinutes - 2 days
$1.991 USD = 4400.3899 MGA
Ar 30,793,972.52You pay$7,000.00

Xe

Pay via Bank transfer
Fee $0.00 1 USD = 4395.9397 MGA +4.43% vs mid-market Recipient gets Ar 30,771,577.90 Minutes - 24 hours
Personal account managerReceive to bank accountDedicated support for larger transactions

Ways to receive money in Madagascar with Xe when paying by bank transfer.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
Free1 USD = 4395.9397 MGA
Ar 30,771,577.90You pay$7,000.00

Xe

Pay via Debit card
Fee $35.00 1 USD = 4395.9397 MGA +4.43% vs mid-market Recipient gets Ar 30,617,720.01 Minutes - 24 hours
Personal account managerReceive to bank accountDedicated support for larger transactions

Ways to receive money in Madagascar with Xe when paying by debit card.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
$35.001 USD = 4395.9397 MGA
Ar 30,617,720.01You pay$7,000.00

Xe

Pay via Credit card
Fee $210.00 1 USD = 4395.9397 MGA +4.43% vs mid-market Recipient gets Ar 29,848,430.56 Minutes - 24 hours
Personal account managerReceive to bank accountDedicated support for larger transactions

Ways to receive money in Madagascar with Xe when paying by credit card.

MethodFee & ratesRecipient gets
Bank depositMinutes - 24 hours
$210.001 USD = 4395.9397 MGA
Ar 29,848,430.56You pay$7,000.00
How Our Results Work
Mid-market rate: 1 USD = 4595.0001 MGA Updates every 60 minutes.

How to send money from US to Madagascar

Pick a company

If you're sending a one-off transfer, then Regency FX is the best option.

Regency FX was the cheapest on 11 of the 29 days it quoted $7,000 transfers to Madagascar.

For recurring transfers, I'd suggest using an app like MoneyGram or a multi-currency account.

For large transfers, a broker like Regency FX is the best option.

If your recipient needs cash, MoneyGram is the cheapest.

How much you send will affect the best option for you right now.

Pay for it

You have 4 ways to pay for your transfer to Madagascar, including debit card, bank transfer, credit card, and cash deposit.

Usually, using bank transfer to fund your transfer is the cheapest but slowest option (ACH and takes a few days).

You can use a debit card, Apple Pay and Google Pay for quicker deposit but it's a bit more expensive.

I suggest avoiding credit cards since these are most expensive and have cash advance fees (Amex is very rarely accepted in general).

Check and send

First time round you'll need to confirm who you are.

An SSN isn't required, an ITIN or a foreign passport works with most companies here.

Compare amounts

How much USD are you sending to Madagascar?

How much USD you send to Madagascar heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.

Our analysis shows Regency FX was the cheapest in 38% of the transfers from $5,000 it quoted, and in 38% of all the transfers it quoted.

Cheapest service
$5000.10%$1.99Ar 2,295,265.00with bank transfer to bank deposit+Ar 160,060.69
$2,0000.65%$0.00Ar 9,130,265.36with bank transfer to bank deposit+Ar 427,494.55
$5,0000.50%$0.00Ar 22,860,125.87with bank transfer to bank deposit+Ar 823,123.68
$7,000This page0.27%$0.00Ar 32,078,155.27with bank transfer to bank deposit+Ar 971,791.66
$10,0000.27%$0.00Ar 45,825,933.85with bank transfer to bank deposit+Ar 1,412,959.18
$50,0000.25%$0.00Ar 229,175,626.90with bank transfer to bank deposit+Ar 6,692,702.97
$100,0000.20%$0.00Ar 458,581,013.67with bank transfer to bank deposit+Ar 13,592,188.83
$250,0000.20%$0.00Ar 1,146,452,383.23with bank transfer to bank deposit+Ar 33,230,351.28

Mid-market rate: 1 USD = 4595.0001 MGA

USD/MGA Exchange Rate History

Is today a good time to send money from US to Madagascar?

The cheapest way to send USD to MGA can change every day, or stay with the same company all month.

We've compared the mid-market rate with the cheapest option each day (today it's Regency FX), across 30 days of comparisons for 7,000 USD transfers to Madagascar.

MGA received for $7,000, after fees

Tue, Nov 10, 2026Mid-market rateAr 32,165,000.77 Regency FX Ar 32,078,155.27Regency FXAr 32,078,155.27OFXAr 32,004,175.77MoneyGramAr 31,681,881.00

30.5M
31.0M
31.5M
32.0M
32.5M
At the mid-market rateWith the cheapest optionRegency FXOFXMoneyGram
Exchange rateFeeRecipient getsDifference
Mid-market rate 4456.4321 – Ar 31,195,024.63
MoneyGram Cheapest 4469.3748 $60.79 Ar 31,285,623.60 +Ar 90,598.97
Regency FX 4444.3997 $0.00 Ar 31,110,798.06 −Ar 84,226.57
OFX 4434.1499 $0.00 Ar 31,039,049.51 −Ar 155,975.12
Exchange rateFeeRecipient getsDifference
Mid-market rate 4518.9994 – Ar 31,632,995.95
Regency FX Cheapest 4506.7981 $0.00 Ar 31,547,586.86 −Ar 85,409.09
OFX 4496.4044 $0.00 Ar 31,474,830.97 −Ar 158,164.98
MoneyGram 4480.3143 $60.79 Ar 31,362,200.10 −Ar 270,795.85
Exchange rateFeeRecipient getsDifference
Mid-market rate 4506.3535 – Ar 31,544,474.58
Regency FX Cheapest 4494.1864 $0.00 Ar 31,459,304.50 −Ar 85,170.08
MoneyGram 4491.1251 $60.79 Ar 31,437,875.70 −Ar 106,598.88
OFX 4483.8217 $0.00 Ar 31,386,752.21 −Ar 157,722.37
Exchange rateFeeRecipient getsDifference
Mid-market rate 4544.9996 – Ar 31,814,997.52
Regency FX Cheapest 4532.7281 $0.00 Ar 31,729,097.03 −Ar 85,900.49
OFX 4522.2746 $0.00 Ar 31,655,922.53 −Ar 159,074.99
MoneyGram 4498.3026 $60.79 Ar 31,488,118.20 −Ar 326,879.32
Exchange rateFeeRecipient getsDifference
Mid-market rate 4504.8138 – Ar 31,533,696.92
MoneyGram Cheapest 4505.4900 $60.79 Ar 31,538,430.00 +Ar 4,733.09
Regency FX 4492.6508 $0.00 Ar 31,448,555.93 −Ar 85,140.98
OFX 4482.2898 $0.00 Ar 31,376,028.43 −Ar 157,668.48
Exchange rateFeeRecipient getsDifference
Mid-market rate 4507.4056 – Ar 31,551,839.17
MoneyGram Cheapest 4515.9939 $60.79 Ar 31,611,957.30 +Ar 60,118.13
Regency FX 4495.2356 $0.00 Ar 31,466,649.20 −Ar 85,189.97
OFX 4484.8686 $0.00 Ar 31,394,079.97 −Ar 157,759.20
Exchange rateFeeRecipient getsDifference
Mid-market rate 4507.4056 – Ar 31,551,839.17
MoneyGram Cheapest 4515.9939 $60.79 Ar 31,611,957.30 +Ar 60,118.13
Regency FX 4495.2356 $0.00 Ar 31,466,649.20 −Ar 85,189.97
OFX 4484.8686 $0.00 Ar 31,394,079.97 −Ar 157,759.20
Exchange rateFeeRecipient getsDifference
Mid-market rate 4515.6604 – Ar 31,609,623.07
MoneyGram Cheapest 4515.9939 $60.79 Ar 31,611,957.30 +Ar 2,334.23
Regency FX 4503.4682 $0.00 Ar 31,524,277.09 −Ar 85,345.98
OFX 4493.0821 $0.00 Ar 31,451,574.96 −Ar 158,048.11
Exchange rateFeeRecipient getsDifference
Mid-market rate 4549.9995 – Ar 31,849,996.35
Regency FX Cheapest 4537.7145 $0.00 Ar 31,764,001.36 −Ar 85,994.99
OFX 4527.2495 $0.00 Ar 31,690,746.37 −Ar 159,249.98
MoneyGram 4525.0623 $60.79 Ar 31,675,436.10 −Ar 174,560.25
Exchange rateFeeRecipient getsDifference
Mid-market rate 4542.1552 – Ar 31,795,086.46
MoneyGram Cheapest 4532.7744 $60.79 Ar 31,729,420.80 −Ar 65,665.66
Regency FX 4529.8914 $0.00 Ar 31,709,239.72 −Ar 85,846.74
OFX 4519.4444 $0.00 Ar 31,636,111.02 −Ar 158,975.44
Exchange rateFeeRecipient getsDifference
Mid-market rate 4519.7589 – Ar 31,638,312.45
MoneyGram Cheapest 4538.8530 $60.79 Ar 31,771,971.00 +Ar 133,658.55
Regency FX 4507.5556 $0.00 Ar 31,552,889.01 −Ar 85,423.44
OFX 4497.1601 $0.00 Ar 31,480,120.89 −Ar 158,191.56
Exchange rateFeeRecipient getsDifference
Mid-market rate 4532.3279 – Ar 31,726,295.52
MoneyGram Cheapest 4539.7737 $60.79 Ar 31,778,415.90 +Ar 52,120.38
Regency FX 4520.0906 $0.00 Ar 31,640,634.53 −Ar 85,660.99
OFX 4509.6663 $0.00 Ar 31,567,664.05 −Ar 158,631.47
Exchange rateFeeRecipient getsDifference
Mid-market rate 4519.1235 – Ar 31,633,864.42
MoneyGram Cheapest 4541.0310 $60.79 Ar 31,787,217.00 +Ar 153,352.58
Regency FX 4506.9219 $0.00 Ar 31,548,452.98 −Ar 85,411.44
OFX 4496.5279 $0.00 Ar 31,475,695.09 −Ar 158,169.33
Exchange rateFeeRecipient getsDifference
Mid-market rate 4519.1235 – Ar 31,633,864.42
MoneyGram Cheapest 4541.0310 $60.79 Ar 31,787,217.00 +Ar 153,352.58
Regency FX 4506.9219 $0.00 Ar 31,548,452.98 −Ar 85,411.44
OFX 4496.5279 $0.00 Ar 31,475,695.09 −Ar 158,169.33
Exchange rateFeeRecipient getsDifference
Mid-market rate 4512.5179 – Ar 31,587,625.56
MoneyGram Cheapest 4541.0310 $60.79 Ar 31,787,217.00 +Ar 199,591.44
Regency FX 4500.3341 $0.00 Ar 31,502,338.97 −Ar 85,286.59
OFX 4489.9553 $0.00 Ar 31,429,687.43 −Ar 157,938.13
Exchange rateFeeRecipient getsDifference
Mid-market rate 4551.5790 – Ar 31,861,053.29
MoneyGram Cheapest 4541.0310 $60.79 Ar 31,787,217.00 −Ar 73,836.29
Regency FX 4539.2898 $0.00 Ar 31,775,028.45 −Ar 86,024.84
OFX 4528.8211 $0.00 Ar 31,701,748.03 −Ar 159,305.26
Exchange rateFeeRecipient getsDifference
Mid-market rate 4560.4509 – Ar 31,923,156.45
Regency FX Cheapest 4548.1377 $0.00 Ar 31,836,963.92 −Ar 86,192.53
OFX 4537.6487 $0.00 Ar 31,763,540.66 −Ar 159,615.79
MoneyGram 4537.4868 $60.79 Ar 31,762,407.60 −Ar 160,748.85
Exchange rateFeeRecipient getsDifference
Mid-market rate 4535.9345 – Ar 31,751,541.65
MoneyGram Cheapest 4534.5069 $60.79 Ar 31,741,548.30 −Ar 9,993.35
Regency FX 4523.6875 $0.00 Ar 31,665,812.49 −Ar 85,729.16
OFX 4513.2548 $0.00 Ar 31,592,783.95 −Ar 158,757.70
Exchange rateFeeRecipient getsDifference
Mid-market rate – – –
MoneyGram Cheapest 4531.1310 $60.79 Ar 31,717,917.00 –
Regency FX No quote collected this day – – – –
OFX No quote collected this day – – – –
Exchange rateFeeRecipient getsDifference
Mid-market rate 4517.5967 – Ar 31,623,176.77
MoneyGram Cheapest 4525.7850 $60.79 Ar 31,680,495.00 +Ar 57,318.23
Regency FX 4505.3992 $0.00 Ar 31,537,794.19 −Ar 85,382.58
OFX 4495.0087 $0.00 Ar 31,465,060.88 −Ar 158,115.89
Exchange rateFeeRecipient getsDifference
Mid-market rate 4517.5967 – Ar 31,623,176.77
Regency FX Cheapest 4505.3992 $0.00 Ar 31,537,794.19 −Ar 85,382.58
OFX 4495.0087 $0.00 Ar 31,465,060.88 −Ar 158,115.89
MoneyGram No quote collected this day – – – –
Exchange rateFeeRecipient getsDifference
Mid-market rate 4536.1102 – Ar 31,752,771.25
MoneyGram Cheapest 4525.7850 $60.79 Ar 31,680,495.00 −Ar 72,276.25
Regency FX 4523.8627 $0.00 Ar 31,667,038.76 −Ar 85,732.49
OFX 4513.4296 $0.00 Ar 31,594,007.39 −Ar 158,763.86
Exchange rateFeeRecipient getsDifference
Mid-market rate 4514.0546 – Ar 31,598,382.04
MoneyGram Cheapest 4527.0621 $60.79 Ar 31,689,434.70 +Ar 91,052.66
Regency FX 4501.8666 $0.00 Ar 31,513,066.41 −Ar 85,315.63
OFX 4491.4843 $0.00 Ar 31,440,390.13 −Ar 157,991.91
Exchange rateFeeRecipient getsDifference
Mid-market rate 4515.4518 – Ar 31,608,162.68
MoneyGram Cheapest 4526.5176 $60.79 Ar 31,685,623.20 +Ar 77,460.52
Regency FX 4503.2601 $0.00 Ar 31,522,820.64 −Ar 85,342.04
OFX 4492.8746 $0.00 Ar 31,450,121.87 −Ar 158,040.81
Exchange rateFeeRecipient getsDifference
Mid-market rate 4516.0545 – Ar 31,612,381.61
MoneyGram Cheapest 4525.9929 $60.79 Ar 31,681,950.30 +Ar 69,568.69
Regency FX 4503.8612 $0.00 Ar 31,527,028.18 −Ar 85,353.43
OFX 4493.4742 $0.00 Ar 31,454,319.70 −Ar 158,061.91
Exchange rateFeeRecipient getsDifference
Mid-market rate 4538.9666 – Ar 31,772,766.20
Regency FX Cheapest 4526.7114 $0.00 Ar 31,686,979.73 −Ar 85,786.47
MoneyGram 4525.9929 $60.79 Ar 31,681,950.30 −Ar 90,815.90
OFX 4516.2718 $0.00 Ar 31,613,902.37 −Ar 158,863.83
Exchange rateFeeRecipient getsDifference
Mid-market rate 4595.0003 – Ar 32,165,002.43
Regency FX Cheapest 4582.5938 $0.00 Ar 32,078,156.92 −Ar 86,845.51
OFX 4572.0253 $0.00 Ar 32,004,177.42 −Ar 160,825.01
MoneyGram 4525.8741 $60.79 Ar 31,681,118.70 −Ar 483,883.73
Exchange rateFeeRecipient getsDifference
Mid-market rate 4553.1591 – Ar 31,872,113.36
Regency FX Cheapest 4540.8655 $0.00 Ar 31,786,058.65 −Ar 86,054.71
OFX 4530.3933 $0.00 Ar 31,712,752.79 −Ar 159,360.57
MoneyGram 4525.8741 $60.79 Ar 31,681,118.70 −Ar 190,994.66
Exchange rateFeeRecipient getsDifference
Mid-market rate 4550.9551 – Ar 31,856,685.70
Regency FX Cheapest 4538.6675 $0.00 Ar 31,770,672.65 −Ar 86,013.05
OFX 4528.2003 $0.00 Ar 31,697,402.27 −Ar 159,283.43
MoneyGram 4525.8741 $60.79 Ar 31,681,118.70 −Ar 175,567.00
Exchange rateFeeRecipient getsDifference
Mid-market rate 4595.0001 – Ar 32,165,000.77
Regency FX Cheapest 4582.5936 $0.00 Ar 32,078,155.27 −Ar 86,845.50
OFX 4572.0251 $0.00 Ar 32,004,175.77 −Ar 160,825.00
MoneyGram 4525.9830 $60.79 Ar 31,681,881.00 −Ar 483,119.77

Exchange rateFeeRecipient getsDifference

Each line shows what the recipient gets when you send $7,000, after fees, as quoted by each company. The mid-market line shows what $7,000 converts to at the real exchange rate, with no fees or markup. Rates are checked once a day. Sponsored placements never affect this data. There are no bank quotes for this period.

Understanding USD/MGA exchange rate

The dashed line is what you'd get at the mid-market rate with no fees, and the blue line is the cheapest option that day.

When the blue line goes above the dashed one, you're getting more MGA per USD than the mid-market rate can offer.

This could be due to money transfer offers, FX rate adjustments, or market competitiveness.

In the past month, a money transfer company beat the mid-market rate on 14 of the last 30 days.

Right now, Regency FX pays 32,078,155.27 MGA on 7,000 USD, which is 86,845.50 MGA less than the mid-market amount.

Today's payout isn't the best this month though, since the highest receive amount was 32,078,156.92 MGA.

If you can wait and want to get the most out of your transfer, create a rate alert and we'll let you know when the rate improves.

Cheapest over time

Picking the cheapest money transfer company

Just because a company is the cheapest today doesn't mean it's always the best option for sending money to Madagascar.

We've tracked 240 comparisons to check how often today's top companies were the cheapest across 8 amounts over the past month.

  1. Regency FXAppeared in 149 comparisons

    Cheapest in 38% of them

  2. OFXAppeared in 239 comparisons

    Cheapest in 7% of them

  3. MoneyGramAppeared in 238 comparisons

    Cheapest in 66% of them

Based on 240 comparisons across 8 amounts over the last 30 days.

Is the cheapest money transfer company always the best?

Different companies can come out cheapest depending on the day and the amount you send.

To keep things fair, we only count the comparisons each company appeared in, and only analyze companies that appeared in at least 50% of all comparisons (so occasional cheapest options don't skew it).

Today Regency FX is the cheapest and gets you the most MGA, but it was the cheapest in only 38% of the 149 comparisons it appeared in over the past month.

OFX (today's second cheapest) was the cheapest in only 7% of its comparisons, so it's rarely the cheapest option for transfers to Madagascar.

If it's a one-off transfer, go with Regency FX, since it's the cheapest right now.

Ways to send money from the US to Madagascar

There are 7 companies available for sending money from the US to Madagascar, across app, currency broker, online, and in person, and more.

For regular transfers home

Money transfer apps

If you send a few hundred dollars home every payday, an app is usually the cheapest way and the least work.

MoneyGram charges $60.79 on a $7,000 transfer with 1.51% markup, saves your recipient's details for next time, and MGA arrives in minutes - 24 hours.

Over the past month, MoneyGram was the cheapest app on 100% of the days it appeared for $7,000 transfers.

Funding from a US bank account or debit card avoids the 1% federal tax that applies to cash-funded transfers.

Sending without a US bank account

Cash & in-person transfers

Paying in cash at an agent can work without a US bank account.

The ID accepted depends on the company and the amount, so check before visiting if you do not have an SSN.

Hand $7,000 to a MoneyGram agent in the US, and your recipient will get 31,681,881 MGA in minutes - 24 hours.

Our data shows MoneyGram came out cheapest among in-person options on 100% of days in the past month.

However, transfers funded with cash or a money order carry a 1% federal tax since January 1, 2026. To avoid it, fund with a debit card or bank account instead (most agents take both).

For one-off transfers

Online transfers

For a one-off transfer, an online service funded from your checking account is usually the cheapest way to send money to Madagascar.

Of all online companies listed here, MoneyGram gets you the most MGA per USD.

On a $7,000 transfer, you will get 31,681,881 MGA after a $60.79 fee and 1.51% markup.

In our comparisons over the past month, it was the cheapest online service on 29 of the 29 days it quoted.

But, bank funding (ACH) takes 1 to 3 business days to clear, while debit cards (and Google Pay/Apple Pay) are usually instant but cost a bit more.

For transfers over $10,000

Currency brokers

For large transfers to Madagascar (e.g. a property purchase, tuition, or moving to Madagascar), a broker like Regency FX charges no fee, gives you a dedicated account manager, and adds 0.27% markup on USD/MGA that gets lower the more you send.

Our analysis shows Regency FX was the cheapest broker in 100% of the transfers from $5,000 it quoted.

Business payments from the US

Global accounts

Global accounts are for US businesses paying people abroad.

Companies like Airwallex, WorldFirst, or Payoneer handle the recurring and batch payments, invoicing, tracking, and more.

Ways to fund USD and receive MGA in Madagascar

With Regency FX, paying by bank transfer and receiving through bank deposit is the cheapest combination. Sending $7,000 gives your recipient 32,078,155.27 MGA.

Deposit USD by debit card, bank transfer, credit card, and cash deposit.

The simplest way is to pay from your US checking account

Pay by bank transfer using your routing and account numbers.

An ACH payment is usually cheaper than a card, but it may take some time for it to clear before a money transfer company can send the money to Madagascar.

You can deposit cash

You'll need to visit the nearest MoneyGram branch and hand over $7,000.

MoneyGram is the cheapest option and will get you 31,681,881 MGA on a $7,000 transfer after fees.

Transfers funded with physical cash are subject to the 1% US remittance transfer tax, but funding from a US bank account or with a US-issued debit or credit card is exempt.

Zelle and Cash App only send money within the US, so neither can send money to Madagascar.

Venmo now sends money internationally to PayPal users in 90+ countries.

Your recipient in Madagascar can collect MGA through bank deposit, mobile money, cash pickup, and mobile wallet.

They can collect cash in Madagascar

Your recipient can collect MGA from a participating MoneyGram location in Madagascar.

They should take a valid photo ID and the collection reference, and check that the name on the transfer matches their ID.

  1. 1
    Bank transfer Bank deposit

    You pay $7,000.00

    Ar32,078,155

    Cheapest

  2. 2
    Cash deposit Cash pickup

    You pay $7,060.79

    Ar31,681,881

    -Ar396,274

  3. 3
    Debit card Cash pickup

    You pay $7,000.00

    Ar31,192,000

    -Ar886,155

  4. 4
    Debit card Mobile money

    You pay $7,000.00

    Ar31,192,000

    -Ar886,155

  5. 5
    Bank transfer Mobile wallet

    You pay $7,105.00

    Ar31,161,907

    -Ar916,248

Show moreShow less
  1. 6
    Debit card Mobile wallet

    You pay $7,001.49

    Ar31,161,907

    -Ar916,248

  2. 7
    Credit card Mobile wallet

    You pay $7,210.00

    Ar31,161,907

    -Ar916,248

  3. 8
    Bank transfer Cash pickup

    You pay $7,005.99

    Ar31,048,669

    -Ar1,029,487

  4. 9
    Credit card Cash pickup

    You pay $7,179.99

    Ar31,048,120

    -Ar1,030,035

  5. 10
    Debit card Bank deposit

    You pay $7,000.00

    Ar30,617,720

    -Ar1,460,435

  6. 11
    Credit card Bank deposit

    You pay $7,000.00

    Ar29,848,431

    -Ar2,229,725

Things to consider before sending USD to Madagascar

The way you fund the transfer now affects the tax, while US law gives you specific rights if something goes wrong.

Find the right USD/MGA company

Cheapest way to send money to Madagascar

The cheapest option is Regency FX, funded by bank transfer with bank deposit for the payout. Your recipient gets 32,078,155.27 MGA, which is 0.23% more than the next best option.

Fastest way to send money to Madagascar

The fastest option is TapTap Send. Pay by debit card and choose mobile money for the payout. Your recipient gets 31,192,000 MGA, with the money arriving in minutes.

Cash-funded transfers now carry a 1% tax

Since January 1, 2026, a 1% federal tax applies when an international transfer is funded with cash, a money order, a cashier's check or a traveler's check.

Funding from a US bank account, including ACH, or with a US-issued debit or credit card is exempt.

The rule applies to how you pay in, so your recipient can still collect cash without triggering the tax.

The $10,000 rule is not a transfer limit

There is no federal cap on how much of your own money you can send electronically abroad.

Your bank or transfer company can set its own limit and ask for proof of where a large or unusual payment came from.

Cash reports and the declaration for physically carrying more than $10,000 across the US border are separate rules.

Do not split cash transactions to avoid a report.

You normally have 30 minutes to cancel

The US Remittance Transfer Rule requires a covered company to show the exchange rate, fees and expected amount received before you pay.

You can normally cancel within 30 minutes at no charge, provided the money has not been deposited or collected.

You also have error-resolution rights if the wrong amount arrives or the transfer never turns up.

Contact the company first and keep the receipt.

The CFPB explains the cancellation and error process.

Need to send a large amount of USD to Madagascar?

For transfers over $10,000, Regency FX is the best option.

It offers the best exchange rate, which is more important than the fee for large transfers to Madagascar.

While Regency FX may not always be the cheapest or fastest way to send MGA, they offer years of experience, and will offer you the peace of mind you need when sending large amounts abroad.

How we analyze the market

We track, save, and analyze the cost, speed, and product offerings of the leading money transfer services available between Madagascar and the United States.


We work with leading money transfer companies to provide real time fees and exchange rates. In the past 30 days alone, we analyzed 240 comparisons across 8 amounts.

This page covers the cheapest and fastest options for USD/MGA transfers. This is how we pick them:

  • Cheapest: the company that gets your recipient the most, after fees and the exchange rate. On a tie, live pricing from the company takes priority over the rates we collect by hand.

  • Fastest: the company with the shortest estimated delivery time once you’ve paid. On a tie, the one that pays out more takes priority.

For a deeper understanding of our commitment to integrity and transparency, check out these articles:

Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.